Price is Fractal - Fibonacci Magic
As you can see, nothing in this market is random. Fibs play a major role. TOTAL market cap is the best expression of this, all other charts are not as useful for analysis of where the overall market is going.
I had to split this into 4 charts to illustrate how price is reacting off significant fib levels (38.2% and 61.8% mainly, but also the 127.2%)
In chart 1 you can see the initial rally retraced perfectly to the 38.2% fib
We then saw a bounce to the 127.2% before a deeper retracement to the 61.8% (as illustrated in chart 2). Note the fib was redrawn from the the swing low to the new swing high.
You can also see in chart 1 the second peak was at the -38.2% of the first FIB drawing.
And the second peak is at the -38.2.% of the second fib drawing..
Fascinating.
Down to chart 3, drawing the fib from swing low to swing high, we see price has currently retraced to once again, the 38.2% and stalled.
We can now assume that a similar thing will occur (a smaller relief rally to 127.2% and a potential dump to the 61.8% before a bigger move higher.
As illustrated in the 4th chart.
There's a possibility we move even higher than the 127.2% and run tot he 138.2% before encountering more resistance
I had to split this into 4 charts to illustrate how price is reacting off significant fib levels (38.2% and 61.8% mainly, but also the 127.2%)
In chart 1 you can see the initial rally retraced perfectly to the 38.2% fib
We then saw a bounce to the 127.2% before a deeper retracement to the 61.8% (as illustrated in chart 2). Note the fib was redrawn from the the swing low to the new swing high.
You can also see in chart 1 the second peak was at the -38.2% of the first FIB drawing.
And the second peak is at the -38.2.% of the second fib drawing..
Fascinating.
Down to chart 3, drawing the fib from swing low to swing high, we see price has currently retraced to once again, the 38.2% and stalled.
We can now assume that a similar thing will occur (a smaller relief rally to 127.2% and a potential dump to the 61.8% before a bigger move higher.
As illustrated in the 4th chart.
There's a possibility we move even higher than the 127.2% and run tot he 138.2% before encountering more resistance
*Not Financial Advice*
*Only Risk What You Can Afford To Lose*
*Just Ideas, Not Investment Advice*
*Trade At Your Own Risk*
*Only Risk What You Can Afford To Lose*
*Just Ideas, Not Investment Advice*
*Trade At Your Own Risk*
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